As a crypto investor with a strong belief in Bitcoin’s potential, I am thrilled to hear about Jack Dorsey’s latest donation to OpenSats. Dorsey’s significant contribution of $21 million is a clear sign of his commitment to the Bitcoin community and its future development.
Jack Dorsey, the previous CEO of Twitter, has astonishingly given $21 million to OpenSats, a financing platform focusing on advancing Bitcoin (BTC) projects.
As a dedicated researcher, I’ve come across an intriguing announcement made by a renowned nonprofit organization on May 4th. They revealed that Jack Dorsey, a distinguished philanthropist, had made a substantial donation to their cause. The purpose of this generous contribution, as stated in their blog post, is to significantly strengthen the resources allocated for open-source projects. This funding will be instrumental in supporting innovators from all corners of the globe, thereby fostering a thriving ecosystem for groundbreaking ideas and technological advancements.
From 2015 to 2021, Dorsey served as the chief executive of Twitter, which is now referred to as X. Subsequently, he validated his earlier involvement in the matter by commenting on a post from Edward Snowden, a renowned technology expert and whistleblower, who cautioned Bitcoin developers about the importance of implementing privacy features directly into the protocol.
21m
— jack (@jack) May 4, 2024
In addition to funding open-source Bitcoin initiatives, Dorsey set aside resources specifically for the legal protection of Bitcoin developers. This action underscores Dorsey’s unwavering support for the Bitcoin community and his conviction that Bitcoin has the power to transform both finance and technology.
OpenSats announced that they will be allocating $15 million to their General Fund, $5 million to the Nostr Fund, and an additional $1 million towards operational expenses.
The General Fund represents a collective pot of funds, derived from both individual and organizational contributions, which is allocated towards the sustenance of Bitcoin-associated free and open source initiatives and their contributors.
Nostr Fund is backing the growth of Nostr, a decentralized social media network. This network operates through relays for message transmission. The user base has experienced remarkable expansion, boasting an impressive 16 million members, with approximately 500,000 of them logging in daily.
OpenSats has a rich background of fostering diverse concepts aimed at broadening the horizons of Bitcoin and other open-source initiatives. To date, they have sponsored as many as 21 teams. Some examples include BTCPay Server, which empowers users to manage their own payment processing platforms, and the Bitcoin Policy Institute.
As a crypto investor and supporter of open-source projects, I’d be thrilled to share that OpenSats is extending an invitation to developers worldwide. If you’re in need of funding for your project, don’t miss this opportunity! Simply visit opensats.org/apply to take the next step and apply.
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2024-05-06 03:54